Tokenizing Green Energy on the Blockchain with WePower

Faith Obafemi
Jan 17, 2018

As of now, there are over 40 (and still counting) use cases of blockchain cutting across virtually every industry you can think of. In a season when the decentralization virus is sweeping down everything in its way, you wouldn't raise a brow if I told you-you could convert a kilowatt of energy to digital money.

That's basically (and much more) what WePower is set to do. Taking back the power from the well, big boys and giving it back to us. After all, it's WePower.

At a time when humans are becoming increasingly worried about how our main source of energy is damaging the Earth, going green is a welcome alternative solution.

Unfortunately, that preferable solution is actually an expensive one or one you would need loans from the banks you probably hate to carry out. For those who do not wish to take on debts, they have the option of giving out securities to investors to raise.

WePower is building a peer-to-peer grid that allows people to buy renewable energy from the grid at affordable rates and also sell the excess, either back to the grid or to a fellow consumer. One token from WePower called WPR is worth one kilowatt-hour of power. Having 24 WPR means you would have power for a whole day. Producers, investors and consumers would be brought under one roof.

If you have a home where virtually all your gadgets are IoT connected, having uninterrupted power source becomes crucial. Green energy plants currently rely on Industrial IoT (IIoT) to facilitate easy exchange of data across different locations and consumers. Decentralizing green energy on the blockchain means consumers can transact directly with the producers.

Although the legal team at WePower say WPRs tokens are utilities, purchasing it still allows you participation in WePower's business. Perhaps, this is the reason citizens and permanent residents of US are barred from participating in its token sales. WPR is also a KYCed coin. To participate in the token sale, you must first be whitelisted, which involves uploading a photo and ID to their site.

Crowdsale is scheduled to begin February 1, this year and visible progress on the project is expected to be seen within 9 months after the sale. Money raised during the ICO will be used in executing the project of setting up grid plants.

To know more about WePower, visit their website here and download their whitepaper here.

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